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Opening Accounts for Nonresident Aliens

Date: Tuesday, February 25th 10:00 am - 11:30 am CT | Cost: $195 and 2 CE Credits

Opening Accounts for Nonresident Aliens

This session will address the following questions about procedures and your bank: What does the law say about identifying nonresident aliens? What type of identification is being used around the country to open accounts? What are the proper procedures for W-8 reporting? What role does Office of Foreign Assets and Control (OFAC) play in your new accounts procedures? If these questions have not been answered to your satisfaction in your bank this session is a must.

What You Will Learn:

- Resident aliens versus Nonresident aliens
- Types of identification available - both primary and secondary
- Sorting out social security numbers and individual taxpayer identification numbers
- W-8 Forms
- W-8BENE
- Customer Identification Program requirements
- Office of Foreign Assets and Control requirements
- Tracking and monitoring high risk accounts
- FATCA
- 1042S Reporting

Who Should Attend: This informative session is for New Accounts Representatives, Personal Bankers, Lenders, Tellers, Branch Managers and Branch Administration.

Speaker: Deborah Crawford is the President of Gettechnical which is a Virginia based training company. She specializes in the deposit side of the FI and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She has 30+ years of combined teaching and banking experience.

Webinar 27 Paid

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Opening Accounts for Nonresident Aliens

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